Astar Network, a smart contracts platform for multichain, has made the official announcement that its native ASTR token has been listed on Huobi Japan. This makes Huobi Japan the third cryptocurrency exchange in Japan to list ASTR tokens, following in the footsteps of Bitbank and GMO Coin. After this listing, the Japan Virtual and Crypto Assets Exchange Association (JVCEA) added the ASTR coin to its ‘Green List.’
The JVCEA, a group composed of 31 crypto exchanges, has devised the Green List as a means of accelerating the listing of cryptocurrencies on Japanese exchanges and fostering more crypto adoption in the country. In the past, JVCEA member exchanges were required to go through a time-consuming vetting process before they could offer any crypto. The assets that are included on the Green List have previously been subjected to stringent screening by at least three of the member exchanges, hence they are exempt from the screening procedure.
Entering Web3 with Astar
After meeting all four of the JVCEA’s requirements, the ASTR token was added to the Green List. These requirements include being handled by three or more member exchanges, having been handled by at least one exchange for more than six months, having crypto assets for which the JVCEA has not set any incidental conditions for its handling, and having other crypto assets for which there isn’t any reason why the Association thinks it unacceptable to be included in this list.
Sota Watanabe, Founder of Astar Network, said, “Given that Astar has a significant presence in Japan and a lot of enterprises are entering Web3 with Astar, joining the Green List is a huge step not only for us but also for Japanese companies. It makes it much faster to list ASTR on other Japanese exchanges. We continue to work with regulators to utilize ASTR in Japan faster.”
Beginning on April 12th, customers of Huobi Japan will be able to make purchases of ASTR using the Japanese yen currency. Traders and investors who buy ASTR on Huobi Japan will have the ability to transfer the token to any supported wallet of their choosing after making the purchase.
Leading Choice for Enterprises and Developers
Astar Network is the blockchain of choice for enterprises and developers interested in the Japanese Web3 market. In spite of Japan’s stringent listing standards, it is also the first publicly available blockchain originating from the country to be listed there. The Japanese authorities have determined that Astar’s native token, ASTR, falls under the category of a cryptocurrency rather than a security.
Astar Network enables real interoperability for developers by providing cross-consensus messaging (XCM) and a cross-virtual machine, in addition to providing support for the development of decentralized applications (dApps) using EVM and WASM smart contracts. The one-of-a-kind Build2Earn model that Astar has developed gives developers the ability to get paid through a dApp staking mechanism for the code and dApps that they develop.
Astar was one of the first parachains to join the Polkadot ecosystem. It is a thriving network that is backed by all of the leading cryptocurrency exchanges as well as tier-1 venture capital firms. Astar provides developers with the adaptability of all Ethereum and WASM toolings, allowing them to get a head start on designing dApps. Astar SpaceLabs provides an Incubation Hub for leading TVL dApps in order to expedite growth on Polkadot and Kusama Networks.
